2003-Integrated/Amended Redevlop Area(2) Carmel Redevelopment Commission
Carmel, Indiana
In teg rated
Economic
Development
Plan
Amended Redevelopment
Plan
Integration Consolidation of
Economic Development Areas
126 Street Economic Development Area
Amended 126 Street Economic Development Area
Pennsylvania Street North South Economic Development Areas
Old Town Economic Development Area
City Center Redevelopment Area
originally passed January 31, 2000
amended August 6, 2003
(2003 amended text is printed in 11 pt arial font for identification purposes)
�Ii 8T3a Sclanf ll7oc amigo
Michael R. Shaver, President
4742 Bluffwood North Drive
Indianapolis, IN 46228
(voice) 317/299 -9529
(fax) 317/329 -9885
(e -mail) wabsci@aol.com
Table Of Contents
2003 Amendment Update: Overview 5
Separate ED Areas Have Grown Contiguous 5
City Center Projects "Directly Benefit" All ED Areas 6
Changes in ED RD Area Boundaries 7
Changes in ED RD Projects Costs 7
Consideration of Other City Initiatives 7
Central Importance of City Center Projects 8
Introduction 1
A Pathway of Self Discovery 1
Summary of Previous Actions 2
Purpose of this Amendment Action 7
Statement of Policy Amendments 10
Interconnected Benefits 10
Amendment to the Old Town EDPIan 12
Amendment to the City Center Redevelopment Plan 12
Total Designated Areas 14
Impact of Future Actions 15
Description of the Integrated EDArea 16
Findings of Fact 24
Overview 24
Continuation of the City Center Project 24
Findings of Fact Related to Additional EDAreas 26
FINDING OF FACT #1: "...PROMOTES SIGNIFICANT OPPORTUNITIES FOR THE
GAINFUL EMPLOYMENT OF ITS CITIZENS..." 26
FINDING OF FACT #2: "...LACK OF LOCAL PUBLIC IMPROVEMENTS..." 27
FINDING #3: "...THE PUBLIC HEALTH AND WELFARE WILL BE BENEFITTED...."
29
FINDING #4: "AN INCREASE IN THE PROPERTY TAX BASE...' 31
FINDING #5: "...CONFORMS TO OTHER DEVELOPMENT AND REDEVELOPMENT
PLANS...." 32
SUMMARY: 34
Description of the Proposed Projects 35
The City Center Project 35
Pennsylvania Street Corridor Widening 36
Future Projects Overview 36
Economic Development Strategy 38
Integrated EDPIan Conclusions 39
Integrated EDPIan Recommendations 41
Parcels Potentially to be Acquired 42
Map No. 1
2003 Amendment Update: Overview
(To facilitate review, the text of the 2003 amendment update is printed
below in aria) 11 pt. font)
The Carmel Redevelopment Commission (CRC) is pursuing this 2003
update of the Integrated Economic Development Plan for the City of
Carmel for the purpose of assuring continuous coordination of the
activities of the CRC with other city boards and agencies. The need for
this 2003 Update is the happy result of substantial progress by the CRC in
achieving many of the original goals for revitalizing the central portions of
the City of Carmel. To put the matter bluntly, much progress has been
made, and in the wake of that progress, it is entirely appropriate for the
City and the CRC to evolve its goals and projects to meet the evolving
needs of the community in the central city area.
When the original Economic Development Plans (ED Plans) were drafted,
the CRC was encouraged to take a conservative approach. In response,
a few major projects were identified and funded in the various ED Areas
that were created in and around the central city area. However, as each
project was completed, the City and the CRC were rewarded with new
economic growth. As each new project was completed, it seemed that a
second project was stimulated, and it is the accumulation of more than 5
years of economic development success that necessitates this
Amendment Update.
Separate ED Areas Have Grown Contiguous
When the CRC began this ED Planning process, the CRC designated
several ED Areas and RD Areas which were distinct and separate, but
which were located in the area between the US31 corridor and the
Rangeline Road corridor. At that time, the CRC took a conservative
position with respect to both the size of the ED RD Areas and the
projects to be undertaken. The CRC could clearly see the purpose of
creating these ED RD Areas, but it was difficult to predict the speed
with which the various development projects would occur.
Since that time, a great deal of progress has occurred. The central
portions of the City have enjoyed a long list of new developments,
including new office buildings, new apartment complexes and the removal
of blighted properties. These successes have caused the ED RD
Areas to grow to the point that they have become largely contiguous with
one another, and the projects which are necessary to continue the
progress have become largely overlapping.
The purpose of this 2003 Amendment Update to the Integrated ED Plan
is to enable the CRC to assure that its work remains functional and
relevant to the developmental interests of the City, even as the boundaries
between the ED RD Areas become less clearly defined.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 5
City Center Projects "Directly Benefit" All ED Areas
The CRC hereby asserts its conclusion that the projects contemplated for
the City Center Redevelopment Area "directly benefit" all of the city's ED
Areas. The portions of Carmel which comprise the City Center
Redevelopment Area represent the oldest business development in the
City. In most cases, cities refuse the tackle the complexities of
redevelopment of older commercial areas, and the result of that refusal is
that older commercial areas decay beyond the point of reincarnation.
Time and again, in city after city across America and in Indiana older
central business districts are allowed to decay into economic dysfunction.
And time and again, community leaders in those cities eventually come to
realize that a healthy and vibrant downtown is essential to every city
Unfortunately, this realization generally occurs too late, and the
redevelopment process is made more expensive and far more difficult.
Carmel Leaders refuses to allow this general urban phenomenon to occur
in their City. In this case, the Mayor, City Council and the CRC undertook
the planning and development efforts to halt the City Center RD Area from
decaying further.. While the first phases of the City Center redevelopment
effort were mainly exploratory, the City is now reaching a level of success
where the City Center can be permanently established as the social,
cultural, and economic heart of Carmel.
As such, the CRC hereby states its assertion that because the City
Center RD Area represents a significant part of the City's original
commercial area the City Center Redevelopment Projects are generally
considered to directly benefit all of the ED RD Areas of the City. The
CRC will therefore consider undertaking projects in the City Center Area
using TIF and other revenues which originate from other ED Areas from
time to time.
When the CRC began the initiative to revitalize the central city area, the
Rangeline Road corridor was beginning to decline. Property ownership
was fragmented in important developmental areas and new investment for
redevelopment was difficult to attract. Although the City was committed to
the creation of a vibrant downtown area, it was clear that the process of
redevelopment would take time.
Projects were originally identified to directly benefit specific ED Areas. For
example, improvements to the Pennsylvania Avenue Corridor were
specifically designed to support new development along that corridor,
while the Streetscape improvement project in Old Town were specific to
that neighborhood, and projects to encourage redevelopment in the City
Center were concentrated on amassing the parcels and tracts necessary
to accomplish the long term vision for the redeveloping the heart of
Carmel.
However, as the economic development and redevelopment process has
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 6
evolved in Carmel, it has become increasingly clear that the various ED
RD Areas are inter dependent, and are no longer functionally separate,
especially in the vicinity of the City Center. It is therefore the stated policy
position of the CRC that the projects contemplated for the City Center
Redevelopment Area do directly benefit the other ED Areas of the City in a
general sense. The intent of this policy is two -fold: first, to enable the
CRC to capture TIF revenues from other ED Areas for use in the
remaining City Center projects; and second, to affirm the importance of a
vibrant and healthy downtown to the City, at large.
Changes in ED RD Area Boundaries
This 2003 Amendment Update will propose changing the boundaries of
several of the ED RD Areas of the City of Carmel. In some cases,
parcels will be deleted from the ED /RD Area and in other cases, parcels
will be added. In each case, the boundary changes will be explained and
shown by the CRC for public review and input. The purpose of the
boundary adjustments will be to enable the CRC to capture new
development -based revenues, to encourage economic development or
redevelopment, and /or to enable the CRC to plan and implement various
economic development and redevelopment projects in and around the
city.
Changes in ED RD Projects Costs
This 2003 Amendment Update to the ED RD Plans for the City will
also propose changes to the projects proposed for each ED RD Area.
Many of the projects which were originally proposed have now been
completed and are no longer relevant to the ED /RD Plan. Some projects
have been altered by the other development which has occurred in the
ED /RD Areas. In some cases, the scope, nature or cost of the proposed
projects has been altered in some manner, thereby compelling the CRC
to update their preparations.
In each ED /RD Area, the Plan will be reviewed and the CRC will consider
adding new projects, deleting old projects, and updating unfinished
projects as a means of refining the CRC's vision as it moves forward.
Consideration of Other City Initiatives
This 2003 Amendment Update will also consider the addition of new
data, planning material, and /or other studies which relate to the activities
and mission of the CRC. In the period since the previous update (2000),
the City has undertaken a number of initiatives, ranging from development
of an area plan for Old Meridian, to settlement of a dispute regarding the
northern section of the Illinois Street Corridor, to planning for
improvements to thoroughfares in the City Center Area, as well as
thoroughfares feeding traffic into the City Center Area.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 7
The CRC will attempt to review these initiatives to determine their impact
on the mission of the CRC and any necessary adjustments to the CRC's
proposed project list. Where appropriate, the CRC will adjust its planning
to reflect these separate initiatives and their impact on the mission of the
CRC.
Central Importance of City Center Projects
The CRC wishes to further state that it believes that its most singularly
important mission is to secure the future economic health of the older
commercial areas of the city, especially the City Center Area. While the
CRC has many missions and initiatives throughout the City, it is the
express statement of the CRC that it considers the final stage of
improvements to the City Center are the most singularly critical to the
future of Carmel.
The City Center RD Area was designated for the express purpose of
redeveloping that area into the civic and cultural center of the City. Those
bold plans envisioned such things as a center for performing arts, as well
as other cultural, tourist, civic and community activities. From the
beginning, the City Center was to be a combination of high- density
housing, intense commercial development, and community- activity
venues. Those plans have not changed. In fact, they have become more
vibrant.
Members of the CRC as well as other community leaders have seen
other cities neglect their downtown areas to their own long -term chagrin.
Carmel is determined to avoid that mistake. It is a well- accepted axiom in
urban development that the central areas of a city are critical to its long-
term health. Because of these consideration, the CRC hereby states that
the City Center projects will be viewed as having the highest priority and
the most central importance of all projects in all of the ED /RD Areas of
Carmel.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 8
Introduction
The following introduction is offered as a means of "setting the stage," for the
actions recommended in this Integrated Economic Development Plan (EDPIan).
The 126t Street Economic Development Area is a critical area for the future of
Carmel. This area contains the City's primary business /office /industrial
development, and it represents a substantial portion of the city's non residential
property tax base. As a result of its importance, the 126t Street Economic
Development Area (126 EDArea) has received a great deal of development
since the original action to create the EDArea.
A Pathway of Self Discovery
2003 Amendment: In 2003, the CRC re- assessed its progress to date, as
well as its evolving needs and expectations with regard to the completion
of projects for the City Center Redevelopment Area, as well as other
Economic Development Areas in the Integrated Plan.
The result of that re- assessment was the realization that the CRC had
accomplished a great deal in the first 5 years of its work. A number of
important public sector projects had been accomplished, such as
completion of the Monon Corridor, as well as other projects, with more
refinement of plans for other public sector projects. In addition, a
substantial amount of land had been acquired and re -sold into the private
sector, resulting in a dramatic change in the landscape of the City Center
area. New restaurants, retail stores, upscale high- density housing and
other new development had already occurred and more projects are either
under construction or in the planning stages.
But the issue that was most clear to even the casual observer was that
the City Center project was effectively functioning as a stimulus for new
development and redevelopment throughout the City's core area. In fact,
the economic activity since the CRC's original planning effort of 1998 has
shown to the entire community that the 'city's center' is actually much
larger than it was thought to be in 1998. Although the CRC designated a
small area near Rangeline Road and 126 Street was as the City Center
Redevelopment Area in 1998, the CRC has learned that the actual 'center
of the city' as it has evolved since that time, is an area which effectively
stretches from 116 Meridian, to 116 Keystone, north to Carmel
Drive, west to Rangeline Road, north to 131S Main and then west to
Meridian. The CRC has learned through its own experience that the
'center of the city' for the 21s century is much, much larger than the "old
downtown" or the acreage around its government center. The map will
show that the 'city center' is an area which is every bit as economically
integrated as the CRC envisioned when it created its "Integrated
Economic Development Plan" an area which has become the economic
engine of the City.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 1
This 2003 effort to amend and update the Integrated Economic
Development Plan Redevelopment Plan will serve to recognize the
accomplishments of the CRC and the City and then begin the planning for
further action to prepare Carmel for success in the 21s century. This
amended "2003" Integrated Economic Development Plan is intended to
serve as the platform for the CRC over the next 5 years, and beyond. The
CRC will take a series of steps to carefully examine each economic
development and redevelopment area, adjust their boundaries, goals and
projects, and then prepare to move forward with a single, unified plan for
unification of a much larger developmental vision.
Summary of Previous Actions
The following summary explains the motives and actions undertaken prior to the
development of this Plan. The summary will summarize the actions previously
taken by the Carmel Redevelopment Commission (CRDC) with regard to the
creation of economic development areas and redevelopment areas in the central
part of the city.
Please note that the following narrative does not address either the Merchant's
Square area or the economic development area(s) created to support the
financing for the Hazel Dell Parkway project, because these projects are not
integral to the economic development activity in the central parts of the City.
In all, the CRDC created four economic development areas and a
redevelopment area, as well as amending the 126t Street EDArea to include
more territory. Map #1 supports the following narrative.
THE OLD TOWN 126 STREET ECONOMIC DEVELOPMENT AREAS:
The 126th Street Corridor Economic Development Area was created by the
Carmel Redevelopment Commission, with the affirmation of the Plan
Commission and City Council, during the summer of 1997. The Economic
Development Plan which documented the creation of the 126t Street Corridor
Economic Development Area was officially named the "Economic
Development Plan: Old Town /126t Street Corridor Economic
Development Areas." It is clear from the title that the original Economic
Development Plan created two Economic Development Areas simultaneously,
each with its own documented findings and justification through previous
editions of the comprehensive plan.
The Old Town EDArea was formed for the purpose of supporting streetscape
and other improvements to the Old Town area of Carmel. This area represents
the oldest developments in Carmel, including the old downtown area, adjacent
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 2
to the intersection of 131' Street and Rangeline Road, which was once the
developmental center of Carmel. The Old Town EDArea was not contiguous
with the 126 Street EDArea.
The 126 Street EDArea was formed to support the extension of the 126
Street corridor from Rangeline Road, westward into the Science& Technology
Park. By completing the 126 Street corridor in this manner, the city
consolidated its thoroughfare system such that the Science Technology Park
and the US31 corridor were more efficiently linked with the City Center area..
At the time these areas were created, the primary financing for the proposed
improvements was provided by a COIT -based Redevelopment Authority
bond, and no action was taken to create /designate a tax allocation area for TIF
purposes.
2003 Amendment: The first action of the CRC in this renewed planning
effort will be to recognize the fact that the OId Town ED Area which was
originally conceived primarily for the purpose of revitalizing the
infrastructure of the old downtown of the original 'town of Carmel' is
actually developmentally linked to the City Center. No project can
realistically take place at the City Center without affecting the Old Town
and 126 Street ED Areas. Therefore, the CRC must accept and
advance the notion that parts of the OId Town ED Area must be
redeveloped, just as was done in the City Center RD Area.
As the first step toward that recognition, it is being recommended that the
CRC consider removing a portion of the Old Town ED Area in order that
this same territory can be added to the City Center RD Area. It is
suggested that the CRC consider acquiring land inside this area in order
to accomplish its goals for redevelopment and economic development
within the larger 'center of the city' which people are beginning to
understand.
PENNSYLVANIA ST. NORTH SOUTH ECONOMIC DEVELOPMENT AREAS:
At the same time as the 126 St. EDArea was created, the Carmel
Redevelopment Commission (CRDC) also approved the creation of the
Pennsylvania Street North Economic Development Area (Penn North) and the
Pennsylvania Street South Economic Development Area (Penn South). The
purpose of creating these two areas was to support the widening of the
Pennsylvania Street corridor in order to: handle greater traffic flow; to serve
new development which would occur once the corridor was complete; and to
accommodate the long term development of a limited access freeway facility
along US31. In the long term scenario, the improved Pennsylvania Street
corridor would provide thoroughfare service to the east side of the US31
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 3
corridor, while a similar corridor would be developed on the west side of US31
to provide access on that side. It was necessary to create two, separate
EDAreas because a portion of the corridor had not been incorporated into the
City of Carmel.
The Pennsylvania Street EDAreas were not officially designated as tax
allocation areas for the purpose of TIF financing support. The improvements to
the Pennsylvania Street corridor were to be undertaken using the same COIT-
based Redevelopment Authority bonds that were used for the 126 Street
project, and Hazel Dell Road.
2003 Amendment: The Pennsylvania corridor now possesses a much
clearer and more important function, due to the clear presentation of
INDOT's plans to make US31 into a freeway design. When the CRC
originally created the ED Areas that supported the Pennsylvania Corridor,
the prospect of a freeway for US31 was considered conjecture. But with
the public release of the DEIS for the US31 upgrade, it is clear that the
CRC's actions of 1998 and 2000 were visionary. On the first day of
construction of a US31 freeway, the City of Carmel will be fully prepared to
make its transportation system function efficiently, due largely to its
planning and provision of service corridors at Pennsylvania and Illinois
Streets.
Therefore, for 2003, the CRC will consider the recommendation to include
additional portions of the Pennsylvania Corridor into the designated
Integrated ED Area.
AMENDED 126TH' STREET ECONOMIC DEVELOPMENT AREA:
The amended EDPIan for the 126 Street corridor dealt solely with the portion
of the original Economic Development Plan (EDPIan) pertaining to the 126
Street Corridor. No portion of the Old Town Economic Development Area or
Economic Development Plan was amended by that effort. The amendment
action significantly enlarged the 126 Street Economic Development Area
(126 EDArea) to the west, bringing most of the Science Technology Park
into the EDArea. As a result of that amendment action, as shown in Map #1,
the 126 Street EDArea abutted the Pennsylvania Street North Pennsylvania
Street South EDAreas.
At the same time, the portion of the 126t Street EDArea surrounding the
government complex was deleted from the EDArea for the purpose of creating
a redevelopment area under Indiana law (see Map #1.)
The amendments to the 126 Street EDArea were undertaken to enable the
City to support the City Center project which was proposed and approved by
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 4
the City to be implemented along the west side of Rangeline Road, south of
126 Street, and north of the government complex. The financing was to
support the first phases (primarily land acquisition) of the City Center project,
and the financial plan was to issue Redevelopment Commission/Authority
bonds based on COIT revenues. The City also designated the 126t Street
Economic Development Area, as amended, as a tax allocation area for TIF
purposes. Incremental tax revenues from the allocation area would provide a
revenue source which would be used to offset the payments from COIT.
2003 Amendment: The 126 Street ED Area is also recommended for
adjustment. Since the CRC's original actions in 1998, the 126 Street ED
Area has grown substantially, and it is time for the CRC to consider
adding new parcels to the ED Area in order to stimulate and capture future
economic growth.
THE CITY CENTER REDEVELOPMENT AREA:
The City Center Redevelopment Area was created to directly support the
development of the City Center project. The City Center project is a multi-
faceted proposal to include a mix of moderate to high- intensity commercial,
retail, office, public and other space. The project was capable of
accommodating such things as museums, performing arts, retail, office,
residential and other types of development, and the long term intent was for the
City Center project to identify and anchor this area as the business hub of the
city, and to protect the long economic term viability of the area. The results of
this action are also shown on Map #1.
The City Center Redevelopment Area was also designated as a tax allocation
area for TIF purposes. The primary financing for the initial phases of the City
Center project was to come from a COIT bond, issued by the Redevelopment
Commission/Authority. In this financing arrangement, the revenue source for
repaying the bonds was COIT, while incremental tax revenue from the
allocation area would provide a revenue source which would be used to offset
the COIT cash flow.
2003 Amendment: In 2003, the City and the Redevelopment Commission
re- assessed the situation with regard to the integrated ED Area, as well
as the City Center Redevelopment Area, and the projects related thereto.
From the original creation of the City Center RD Area in 1998, through the
amendments of 2000, and on through the current situation (2003), the
Carmel Redevelopment Commission has accomplished many of the
projects on the original agenda.
In the 2000 amendment documentation, there was a breakdown of
projects presented for approval at that time, and estimated costs, as
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 5
follows:
project Minimum Maximum
Estimate Estimate
Performing Arts Center $25,000,000 $30,000,000
Art Museum $14,000,000 $16,000,000
Land Acquisition for Old Town Redevelopment $3,500,000 $4,000,000
Street Department Maintenance Facility $1,500,000 $2,000,000
Land Acquisition Along Rangeline Road $1,800,000 $2,000,000
Old Meridian corridor Improvements $1,000,000 $1,500,000
Mohawk Center Development $5,000,000 $6,000,000
Total Estimated Costs $51,800,000 $61,500,000
As of 2003, the Street Department Maintenance Facility has been
relocated to another site, which is under construction. In addition, the
Redevelopment Commission has acquired several parcels in pursuit of
the individual projects under the City Center project umbrella, and has
successfully redeveloped, or has supported the redevelopment of, several
major parcels under private sector investment. To put the matter simply,
the City Center Redevelopment Area looks very different today than it did
in 1998. The CRC has made significant progress in revitalizing the City
Center Redevelopment Area.
Therefore, when the CRC reviewed its progress and charted its course
for moving forward in 2003, the City re- assessed the progress on the
original project list noting both the projects completed and the ones not
completed as well as adding new projects which are intended to
address the evolving needs of a growing and vital City Center
Redevelopment Area.
INITIAL FINANCIAL RESULTS IN THE REDEVELOPMENT AREA:
The COIT bond which was issued to support the City Center Redevelopment
Area and its activities resulted in the acquisition of several parcels of land north
of the Government Center, along the 126` Street corridor. Those parcels were
fundamentally undeveloped prior to the creation of the RDArea. As a result of
the acquisition and redevelopment of these parcels, however, the
Redevelopment Commission realized a substantial developmental windfall.
The AMLI development was recruited into the RDArea by virtue of the
acquisition of land by the Carmel RDC. The RDC assembled the land and
advertised for development proposals for this property, and as a result of that
effort, the community realized a direct cash benefit of some $4 million for the
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 6
purchase of the land, as well as the developmental benefits associated with
future property tax increment. Please note that these parcels were previously
undeveloped, despite their prime location, therefore, the ability of the RDC to
recruit suitable development in conjunction with the City Center Redevelopment
Plan was a major overall benefit to the community.
2003 Amendment: In the years between 1998 and 2002, the CRC's
actions in the City Center RD area substantially reduced the incremental
assessed value in the RD Area. This reduction was a necessary first
step in order to achieve the economic growth which was originally
envisioned. However, it is anticipated that, sometime in the 2003 -2004
time period, the CRC's tax increment scenario in the City Center RD Area
will be reversed, and the City Center RD Area will become a major new
source of incremental assessed value. As this emergence takes place,
the CRC will be in a much better position to implement the last of its
agenda for creating significant new public spaces within the City of
Carmel's `center' area, which are expected to serve as the rallying point of
the City for the next century.
Purpose of this Amendment Action
The purpose of this amendment to the 126` Street Corridor Economic
Development Plan is to clarify and coordinate all of the previous actions into a
single, integrated plan. Map #1 shows all of the previous economic
development and redevelopment areas created to support the efficient and
effective development of the central part of the City of Carmel. The purpose of
this Amendment Action (Amendment #2) is to present the public and the
various city agencies and elected officials with a single, integrated plan that
shows what has happened within theses EDAreas and also shows what is
proposed to happen over the next 10 -20 years.
2003 Amendment: The purpose of this 2003 amendment is to clearly and
publicly measure the progress which the City and the CRC has made toward its
original goals of 1998, and to set forth the framework for the projects which
are intended to address the future of the City.
PROPOSED ACTIONS:
This Amendment #2: Integrated Economic Development Plan undertakes the
following specific activities (see Map #2):
1. To consolidate three (3) of the economic development areas within the
central part of the City into a single, integrated economic development
area, as follows:
Pennsylvania Street South Economic Development Area;
Pennsylvania Street North Economic Development Area;
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 7
126 Street Economic Development Area, as amended.
2. To extend the boundaries of the Integrated Economic Development Area to
include new development which has taken place in the vicinity.
3. To designate as a tax allocation area that portion of the Integrated Economic
Development Area not currently designated as a tax allocation area, as a means
of providing future financing opportunities to stimulate desirable economic
development in the integrated area. (See Map #2.)
2003 Amendment: The 2003 amendment to the Integrated ED Plan
proposes to undertake the following specific actions:
1. To remove a small area along Rangeline Road from the Old Town
ED Area and to include that same area in the City Center RD Area
for purposes of achieving new redevelopment in the City's core
area.
2. To add new parts of the Pennsylvania Street corridor into the
Integrated ED Area in support of both the City Center
redevelopment vision and the US31 freeway project.
3. To add new parcels to the 126 Street ED Area in order to enable
the ED Area to continue its growth.
4. To amend and expand the North Illinois Street ED Area into the
"Illinois Corridor ED Area" in support of the US31 project, and in
support of further construction of the Illinois Street corridor.
5. To designate at least one additional Tax Allocation Area in the Old
Town ED Area in order to capture additional property tax increment
in support of the next phases of the City Center projects.
6. To reconsider and expand the Hazel Dell and the Plum Creek ED
Areas and to re- examine the roles of these ED Areas in possible
support of the revitalization of the city's core area.
PURPOSE OF THE PROPOSED A CTIONS:
The Economic Development Areas are being consolidated and amended for
several reasons:
1. To clarify and simplify the economic development scenario related
to the ultimate development of the central portion of the City.
2. To extend the tax allocation area of the City for the purpose of
potentially supporting additional phases of the City Center project.
Now that the land acquisition has been complete, the 126 Street
corridor is functional, the City has been presented with new
development opportunities related to the City Center project.
3. To increase the capacity for tax increment financing in support of
economic development opportunities in the integrated area.
4. To set the stage for specific consideration of additional financing
strategies for projects related to the central area of the community.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 8
Statement of Policy Amendments
The purpose of the Integrated EDPIan is to provide the city's leadership with a
single, organized planning document from which to base future economic
development policy decisions. As will be explained below, much of this
Integrated EDPIan is simply a consolidation and re- statement of the original
body of multiple economic development plans and redevelopment plans. In
addition to that re- statement, however, the Integrated EDPIan officially extends
the individual existing plans, in part as follows.
Interconnected Benefits
The 126 Street Economic Development Plan (as amended), the Old Town
Economic Development Plan, the Pennsylvania Street North South
Economic Development Plans, and the City Center Redevelopment Plan have
been developed as an interconnected network of planning documents relating to
the long term development of the business core of the City of Carmel. These
plans were originally conceived as integrated documents, each with a specific
contribution to the overall development pattern of this core area. Originally,
however, it was impossible to predict how quickly the developmental elements
would come together.
DEVELOPMENTAL CHARACTER:
The development of the Pennsylvania Street corridor is integral to the long term
plan to develop the US31 corridor into a limited access, freeway corridor.
Ultimately, the improved Pennsylvania corridor will be paired with an improved
corridor west of US31 to provide local access to important developments
along the US31 corridor, thus allowing US31 to be re- designed as a freeway.
The Old Town area is projected to be redeveloped as an intense urban core
containing the historical origins of the City. This area will ultimately reflect the
city's historic character and will be linked to the commercial core of the city
through the Science Technology Park, as well as the Carmel Drive
commercial area.
The 126 Street EDArea will represent Carmel's development as an upscale
business center, containing some of the region's most successful high
technology business interests. This area was once defined by the Carmel
Industrial Park, which was severely limited in its developmental capacity.
Through the development of a greater vision, however, the original Industrial
Park was expanded and its developmental profile substantially elevated to
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 9
include the attraction of business headquarter operations, as well as high profile
national offices and high -rise office and conference complexes. This area
represents the city's highest profile business core.
The City Center Redevelopment Area was conceived as the cultural center of
the community. Although Carmel has grown as an upscale suburban
community, the City Center concept was developed as a place where the best
of the community was anchored in defining the future character of the
community. The City Center proposal included arts and cultural facilities,
substantial public spaces, improved thoroughfare access, and increased visibility
of the community's core.
INTERCONNECTING SERVICES AND BENEFITS:
Due to the developmental character issues discussed above, the original
planning efforts, including the economic development plans and redevelopment
plans for the various areas, it was determined that services and benefits
resulting from projects in one area directly interconnected with benefits from
projects in the other areas. Improvements to the 126 Street corridor would
directly serve and benefit Old Town by increasing thoroughfare access to the
historic downtown. Cultural facilities in the City Center would directly serve
and benefit old downtown merchants by increasing popular access to their
businesses. Having greater cultural traffic in the City Center would also
improve the visibility of the Science Technology Park, and thereby directly
serve and benefit that area.. Improvements to the Pennsylvania St. corridor
would generally increase access to the business core of the community, and
thereby directly serve and benefit that area.
In short, each of these separate planning efforts contributed incrementally to the
developmental character of the others. Success in one area facilitated success
in the other areas. Completion of one project made it easier to complete the
next. For these reasons, the Integrated EDPIan hereby specifically and formally
finds and determines that services and benefits of theses plans and projects are
mutually interconnected, with each directly serving and benefitting the others.
All of the projects in the Integrated EDPIan are considered to be functionally
and developmentally linked toward the ultimate execution of the long term
development plan for the City of Carmel in the defined areas.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 10
Amendment to the Old Town EDPIan
The Old Town Economic Development Plan (EDPIan) is hereby formally
amended to include support for various public private redevelopment efforts
within the Old Town EDArea. This includes various proposals to redevelop
certain portions of the area.
Since the EDArea retains no authority for eminent domain, there is no proposed
land acquisition through eminent domain, however, it may be appropriate for
the city to participate in the purchase of various parcels of real estate in
conjunction with certain redevelopment proposals. It is important to note,
however, that the City should exercise caution in the process of purchasing land
so as to assure the public that due process was carefully followed and that the
public interest was served at all times.
Therefore, the Old Town EDPIan is hereby amended to include appropriately
negotiated land acquisition in support of public private redevelopment
proposals which meet the developmental parameters of the long term
development plans of the community. In such cases where the process is
appropriately followed, it is therefore determined that the services and benefits
of such projects to the Old Town EDArea also accrue equally and directly to
the service and benefit of the amended and consolidated 126 Street EDArea
and the City Center Redevelopment Area.
2003 Amendment: The Old Town ED Area was originally very simple in its
concept to revitalize the infrastructure of the Old Town area, by adding
new street lights, new sidewalks, streets, curbs, gutters and street
furniture. Those goals have been achieved. However, the combined
impact of these improvements, as well as the rippling impact of the City
Center projects achieved within the private sector, have stimulated the
need to consider establishing a tax allocation area near Main Street and
1st Avenue SW in order to capture additional tax increment from new
development in that area. In addition, it has become necessary to
recommend that several parcels be acquired by the CRC in order to
implement further redevelopment projects in the neighborhood.
Amendment to the City Center Redevelopment Plan
The City Center Redevelopment Plan comprehensively incorporated the
proposals of the City Center project, including the development of both public
and private sector facilities, as well as open spaces and other developments to
increase the public visibility of the RDArea, including the government center.
Since the City Center Redevelopment Area was defined by a Redevelopment
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 11
Plan, the CRDC retains the power of eminent domain in the City Center
RDArea, which can be exercised cooperatively with the City of Carmel,
depending upon the ultimate use of the land acquired. Therefore, the City
Center RDPIan is officially amended to include such land acquisition as was
originally envisioned in support of the implementation of the City Center
project, including parcels fronting on Rangeline Road.
Therefore, the City Center Redevelopment Plan (RDPIan) is hereby amended
to include land acquisition, possibly including eminent domain actions, in
support of the City Center Redevelopment proposals which were previously
made a part of the RDPIan. Such land acquisition, either through eminent
domain or negotiated purchase, should meet the developmental parameters of
the long term development plans of the community. In such cases where the
process is appropriately followed, it is therefore determined that the services
and benefits of such projects to the City Center Redevelopment Area also
accrue equally and directly to the service and benefit of the amended and
consolidated 126t Street EDArea, and the Old Town EDArea
2003 Amendment: the City Center RD Plan is hereby further amended to
include an area along Rangeline Road with two nodes for redevelopment.
The first node is located in the southeast quadrant of the intersection of
Rangleine Main Street, and the second node is located along Rangeline,
south of 1s Street SW. Parcels within these nodes are to be included on
the list of parcels to be acquired and may be acquired through either
negotiated purchase or eminent domain by the CRC in order for the CRC
to achieve its redevelopment goals.
In addition, the RD Plan will add new projects to its project list, as follows:
Storage /restroom building on Monon Trail $300,000 $500,000
Veteran's Memorial $75,000 $125,000
South Veteran's Way Roundabout $900,000 $1,000,000
East -west Retail Boulevard $500,000 $600,000
Repairs, renovation, remodeling of Public Spaces $175,000 $225,000
Infrastructure redevelopment, utility burial $650,000 $750,000
construction of the South Tower $400,000 $500,000
Total Designated Areas
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 12
The following table summarizes the previous actions of the Carmel
Redevelopment Commission with respect to the creation of economic
development and redevelopment areas, as well as amendments thereto.
Area Name original total
acreage acreage
126` Street Economic Development Area 278 278
(less) City Center Redevelopment Area (112) 166
126 Street Economic Development Area (amended) 378 544
Pennsylvania St. North Economic Development Area 41 585
Pennsylvania St. South Economic Development Area 130 715
Old Town Economic Development Area 322 1037
Acres Recommended for Addition 110 1147
Impact of Future Actions
This Integrated EDPIan is to be submitted to the Carmel Redevelopment
Commission (CRDC) for approval. After receiving such approval, the
Integrated EDPIan must then receive approval from the City Council. It is,
therefore, important that the various agencies, bodies, elected officials and the
general public understand the limitations which are imposed on subsequent
decisions and actions by these various agencies and bodies.
The vast bulk of all of the geographic area contained in the Integrated
Economic Development Area is already within a designated economic
development area. The actions proposed within this Integrated EDPIan in no
way negate any previous action, but rather build upon those previous actions.
Therefore, this Integrated EDPIan is undertaken with the understanding that
future actions are cumulative.
Any agency or governing body with authority over the decisions to be
undertaken as a result of this Integrated EDPIan, therefore, should understand
that such actions do not negate the previous legal actions of the CRDC or the
City of Carmel. This is especially true of any actions which resulted in the
issuance of public debt to support the proposed economic development
activities.
Since all previous actions remain in place, the impact which this future action
has on the economic development planning of the city is as follows:
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 1
1. To integrate the three designated economic development areas (126
Street (as amended), Pennsylvania Street South, Pennsylvania Street
North) into a single economic development area, as presented above;
2. To amend the Integrated EDArea to include new areas which are being
developed (see Map #2):
3. To designate the entire Integrated EDArea subject to certain exceptions,
including the new developments, as a tax allocation area (see Map #3);
4. To present projects which might be anticipated as part of the Economic
Development Strategy for the Integrated EDArea for the potential of public
financing and /or financial incentives.
2003 Amendment: The 2003 Integrated ED Plan and Amended City
Center Redevelopment Plan will be placed before the public in
accordance with statutory requirements.
Description of the Integrated EDArea
The description of the boundaries of the Integrated 126`" Street Economic
Development Area is based on the aerial parcel maps provided by the Hamilton
County Auditor's office on December 15, 1997 (aerial photography dated
April, 1994), as follows:
Beginning at the point of intersection of the north right of way of Adams
Street with the western boundary of Parcel No. 005 on Map No. 09- 36 -00,
and extending southwesterly and westerly along the north right of way line
of Adams Street to its point of intersection with the western right of way
line of Guilford Road;
Thence north along the western right of way line of Guilford Road to the
northeast corner of Parcel No. 007 of Map No. 09- 36 -00;
Thence west along the northern boundaries of Parcel Numbers 007,
007.001 and 002, to the point of intersection with the north right of way line
of Carmel Drive;
Thence northwesterly along the north right of way line of Carmel Drive to
the point of intersection with the southeast corner of Parcel No. 029.001
on Map 09 -26 -00 (Shepherd Insurance);
Thence north along the eastern boundary or Parcel No. 029.001 on Map
No. 09 -26 -00 to the northwest corner of Parcel No. 001 of Map 09- 26 -00,
(Arbors of Carmel)
Thence east along the northern boundary of Parcel No. 001 on Map No.
09 -26 -00 to the southeast corner of Parcel No. 013 on Map No. 09- 26 -00,
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 14
Thence north along the eastern boundary of Parcel No. 013 on Map No.
09- 26 -00, to the northeast corner of said Parcel No. 013, (proposed
Buckingham development)
Thence west along the northern boundary of said Parcel No. 013 to the
southeast corner of Parcel No. 016 on Map No. 09- 26 -00,
Thence north along the eastern boundary of said Parcel No. 016 to the
northeast corner of said Parcel No. 016,
Thence west along the northern boundary of said Parcel No. 016 to the
point of intersection with the southeast right of way line of Old Meridian
Street,
Thence west, across Old Meridian Street, to the northwest right of way
line of Old Meridian Street,
Thence due west, across Parcel No. 1609260000015000 (Meijer) to the
point of intersection with the eastern right of way line of Pennsylvania
Street, (the Pennsylvania Corridor EDArea)
Thence north, along the eastern right of way line of Pennsylvania Street to
the point of intersection with the south right of way line of 131 Street
(Main Street),
Thence west, along the south right of way line of 131 Street to the point
of intersection with the eastern right of way line of US31,
Thence south, along the eastern right of way line of US31 to the point of
intersection with the north right of way line of 126" Street,
Thence west along the north right of way line of 126' Street, across US31,
to the point of intersection with the west right of way line of US31,
Thence north along the west right of way line of US31 to the point of
intersection with the south right of way line of 131s Street,
Thence west along the south right of way line of 131s Street to the point of
intersection with the east right of way line of Meridian Corners Boulevard,
Thence south along the east right of way line of Meridian Corners
Boulevard to the point of intersection with the northwest corner of Parcel
No. 017.003 shown on Map No. 09- 26 -00,
Thence east along the northern boundary' of said Parcel No. 017.003 to the
northeast corner of said Parcel No. 017.003, which is also the point of
intersection with the western boundary of Parcel No. 016.001 on Map No.
09- 26 -00, (Hamilton Crossing West development)
Thence south along the western boundary of said Parcel No. 016.001 to
the point of intersection with the northern right of way line of West 126
Street,
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 15
Thence south across West 126 Street to the point of intersection with the
south right of way line of West 126 Street,
Thence east along the south right of way line of West 126 Street to the
point of intersection with the west right of way line of US31,
Thence east across US31 to the point of intersection with the eastern right
of way line of US31,
Thence south along the eastern right of way line of US31 to the point of
intersection with the southern boundary of Parcel No. 010 on Map No. 09-
35-00, (Hamilton Crossing East (Duke) development)
Thence east along the southern boundary of said Parcel No. 010 to the
southeast corner of said Parcel No. 010 on Map No. 09- 35 -00,
Thence northeast, across Pennsylvania Street to the point of intersection
with the eastern right of way line of Pennsylvania Street,
Thence north along the eastern right of way line of Pennsylvania Street to
the point of intersection with the southern right of way line of 126 Street,
Thence east along the southern right of way line of 126 Street to the point
of intersection with the southeastern right of way line of Old Meridian
Street (Old US31),
Thence southwesterly along the southeastern right of way line of Old U.S.
Hwy 31 to the point of intersection with the northern boundary of Parcel
No. 027 (Map No. 09- 35 -00) to the northeast corner of said parcel;
Thence south along the eastern boundaries of Parcel Numbers 027, 026,
025, 024, 022, and 021 to the southeast corner of Parcel No. 021 (Map
No. 09- 35 -00);
Thence east along the southern boundary of Parcel No. 021 to the point of
intersection with the eastern right of way line of Pennsylvania Street;
Thence due west, across Pennsylvania Street, to the point of intersection
with the western right of way line of Pennsylvania Street;
Thence south along the western right of way line of Pennsylvania Street to
the point of intersection with the northeast corner of Parcel No. 037.000 on
Map No. 09- 35 -00,
Thence west along the northern boundary of said Parcel No. 037.000 to
the point of intersection with the eastern right of way line of US31;
(Pennsylvania South EDArea)
Thence south along the eastern right of way line of US31 to the point of
intersection with the center line of 116 Street;
Thence east along the center line of 116th Street to the point of
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 16
intersection with the western boundary of Parcel No. 059 (Map No. 09 -36-
00);
Thence north along the western boundary of Parcel Numbers 059 and 060
to the northwest corner of Parcel No. 060;
Thence east along the northern boundary of Parcel 060 to the northeast
corner of Parcel No. 060;
Thence north along the eastern boundary of Parcel Numbers 002, 004, and
003 (as shown on Map No. 09- 36 -00) to the northeast corner of Parcel No.
003;
Thence east along the southern boundary of Parcel Numbers 003 and 005
to the interior southwest corner of Parcel No. 005;
Thence south along the southwest boundary of Parcel No. 005 and
continuing south along the western boundary of Parcel Numbers 004.005,
004 and 004.004 to the southwest corner of Parcel No. 004.004;
Thence east along the southern boundary of Parcel 004.004 to the
southeast corner of said parcel;
Thence north along the eastern boundary of Parcel Numbers 004.004,
004.003, 004.101, and 004.001 to the point of intersection with the south
right of way line of Carmel Drive;
Thence east along the south right of way line of Carmel Drive, across
Rangeline Road to the eastern right of way line of Rangeline Road;
Thence north along the eastern right of way line of Rangeline Road to the
south right of way line of Executive Drive, as shown on Map No.10- 31 -00;
Thence east along the south right of way line of Executive Drive, as shown
on Map No. 10- 31 -00, to the northwest corner of Parcel No. 006, as shown
on said map;
Thence south along the western boundary of Parcel No. 006 to the
southwest corner of said parcel;
Thence eastward, northward and eastward along the southern boundary of
Parcel No. 006, as shown on Map No. 10- 31 -00, to the southeast corner of
Parcel No. 006, thence eastward across the right of way of Executive Drive
to the southwest corner of Parcel No. 001 (Centerpoint Section 2 -A);
Thence eastward along the southern boundary of Parcel No. 001 of
Centerpoint Section 2 -A, as shown on Map No. 10 -31 -00 to the southeast
corner of said parcel;
Thence northward along the eastern boundary of Parcel No. 001 to the
northeast corner of said parcel;
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 1 7
Thence westward along the northern boundary of Parcel No. 001, to the
northeast corner of Parcel No. 003 (Centerpoint Section 2), thence
westward along the northern boundaries of Centerpoint Section 2, Parcel
Numbers 003, 002 and 001;
Thence west along the northern boundary of Parcel No. 001 of Centerpoint
Section as shown on Map No. 10- 31 -00, to the point of intersection with
the center line of Rangeline Road;
Thence north along the center line of Rangeline Road to the point of
intersection with the northern boundary of Parcel No. 013 as shown on
Map No. 09- 36 -00;
Thence west along the northern boundary of Parcel No. 013 to the
northwest corner of said parcel;
Thence south along the western boundary of Parcel No. 013 to the
southwest corner of said parcel;
Thence west along the southern boundary of Parcel No. 008.001 to the
southwest corner of said parcel;
Thence south, across the road right of way and continuing south along the
western boundary of Parcel Numbers 016, 017, 018, 019, 020, 021, 022,
023, 024, 025.001, and 026.001, as shown on Map No. 09- 36 -00, to the
southwest corner of Parcel No. 026.001;
Thence west along the southern boundary of Parcel No. 015 to the
southwest corner of said parcel, continuing across the Old Monon right of
way to the point of intersection with the west right of way line of the Old
Monon Railroad;
Thence north along the west right of way line of the Old Monon Railroad to
the point of intersection with the southern boundary of Parcel No. 005;
Thence west along the southern boundary of Parcel No. 005 to the
southwest corner of said parcel;
Thence north along the western boundary of Parcel No. 005 to the point of
intersection with the northern right of way line of Adams Street, which is
the point of beginning.
2003 Amendment to the Old Town ED Area and City Center RD Area:
Legal Description of the Amendment
to the City Center Redevelopment Area
Adding Parcels to the Redevelopment Area
The following describes an area to be added to the City Center
Redevelopment Area, inclusive of all parcels contained within the
boundaries designated, as follows;
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 18
Beginning at the point of intersection of the west right of way line of
Rangeline Road with the south right of way line of Mohawk Drive (a.k.a.
City Center Drive), which is within the designated boundaries of the City
Center Redevelopment Area,
then proceeding northward along the west right of way line of Rangeline
Road, to the point of intersection with the south right of way line of 3r
Street SW,
then proceeding westward, along the south right of way line of 3rd Street
SW, to the point of intersection with the east right of way line of 1S Avenue
SW,
then proceeding northward, along the east right of way line of 1S Avenue
SW, to the point of intersection with the southwest corner of parcel 16 -09-
25- 16 -03- 001 -000,
then proceeding eastward, along the south property line of parcels 16 -09-
25-16-03- 001 -000 and 16- 09- 25- 16 -03- 002 -000, to the southwest corner
of parcel 16- 09- 25- 16 -03- 003 -000,
then proceeding northward, along the west boundary of parcel 16- 09 -25-
16-03- 003 -000, to the point of intersection with the south right of way line
of 1' Street SW,
then proceeding eastward, along the south right of way line of 1' Street
SW, to the point of intersection with the west right of way line of Rangeline
Road,
then proceeding northward, along the west right of way line of Rangeline
Road to the point of intersection with the south right of way line of Main
Street,
then proceeding northward, across the right of way of Main Street to the
north right of way line of Main Street,
then proceeding eastward, along the north right of way line of Main Street,
to the point of intersection with the east right of way line of 1S Avenue SE,
then proceeding southward, along the east right of way line of 1s Avenue
SE, to the point of intersection with the north right of way line of 1S Street
SE,
then proceeding westward, along the north right of way line of 1S Street
SE, to the southeast corner of parcel number 16- 10- 30- 03 -01- 030 -000,
then proceeding northward, along the eastern boundary of parcel numbers
16- 10- 30- 03 -01- 030 -000 and 16- 10- 30- 03 -01- 031 -000, to the northeast
corner of parcel number 16- 10- 30- 03 -01- 031 -000,
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 1
then proceeding westward, along the northern boundary of parcel 16 -10-
30-03-01- 031 -000, to the point of intersection with the east right of way
line of Rangeline Road,
then proceeding southward, along the east right of way line of Rangeline
Road, to a point directly eastward of the south right of way line of Civic
Square Drive,
then proceeding westward, across the right of way of Rangeline Road, to
the point of intersection with the south right of way line of Civic Square
Drive and the west right of way line of Rangeline Road, which is within the
designated boundaries of the City Center Redevelopment Area.
Legal Description Deleting Area /Parcels from the OId Town
Economic Development Area
The following describes an area which is intended to be added by
amendment to the City Center Redevelopment Area, and a part of which
is currently located within the boundaries of the Old Town Economic
Development Area. Any portion of the Old Town Economic Development
Area described herein is therefore officially deleted from the OId Town
Economic Development Area, inclusive of all parcels contained within the
boundaries described, as follows;
Beginning at the point of intersection of the west right of way line of
Rangeline Road with the south right of way line of Mohawk Drive (a.k.a.
City Center Drive), which is within the designated boundaries of the City
Center Redevelopment Area,
then proceeding northward along the west right of way line of Rangeline
Road, to the point of intersection with the south right of way line of 3rd
Street SW,
then proceeding westward, along the south right of way line of 3rd Street
SW, to the point of intersection with the east right of way line of 1S Avenue
SW,
then proceeding northward, along the east right of way line of 1S Avenue
SW, to the point of intersection with the southwest corner of parcel 16 -09-
25- 16 -03- 001 -000,
then proceeding eastward, along the south property line of parcels 16 -09-
25-16-03- 001 -000 and 16- 09- 25- 16 -03- 002 -000, to the southwest corner
of parcel 16- 09- 25- 16 -03- 003 -000,
then proceeding northward, along the west boundary of parcel 16- 09 -25-
16-03- 003 -000, to the point of intersection with the south right of way line
of 1S Street SW,
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 20
then proceeding eastward, along the south right of way line of 1St Street
SW, to the point of intersection with the west right of way line of Rangeline
Road,
then proceeding northward, along the west right of way line of Rangeline
Road to the point of intersection with the south right of way line of Main
Street,
then proceeding northward, across the right of way of Main Street to the
north right of way line of Main Street,
then proceeding eastward, along the north right of way line of Main Street,
to the point of intersection with the east right of way line of 1St Avenue SE,
then proceeding southward, along the east right of way line of 1s Avenue
SE, to the point of intersection with the north right of way line of 1S Street
SE,
then proceeding westward, along the north right of way line of 1S Street
SE, to the southeast corner of parcel number 16- 10- 30- 03 -01- 030 -000,
then proceeding northward, along the eastern boundary of parcel numbers
16- 10- 30- 03 -01- 030 -000 and 16- 10- 30- 03 -01- 031 -000, to the northeast
corner of parcel number 16- 10- 30- 03 -01- 031 -000,
then proceeding westward, along the northern boundary of parcel 16 -10-
30-03-01- 031 -000, to the point of intersection with the east right of way
line of Rangeline Road,
then proceeding southward, along the east right of way line of Rangeline
Road, to a point directly eastward of the south right of way line of Civic
Square Drive,
then proceeding westward, across the right of way of Rangeline Road, to
the point of intersection with the south right of way line of Civic Square
Drive and the west right of way line of Rangeline Road, which is within the
designated boundaries of the City Center Redevelopment Area.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 21
Findings of Fact
Overview
The statutory Findings of Fact for each of the EDAreas was originally
established in the Economic Development Plans for each area. In each of those
plans, the statutory provisions were itemized and examined individually, and
conclusions and recommendations were made based on the analytical
parameters of each, individual area. Consequently, this Amendment #2:
Integrated Economic Development Plan hereby officially and formally
incorporates all of the original Findings of Fact, as well as the entire text of each
Economic Development Plan into this single, Integrated Economic Development
Plan. The text of the individual Economic Development Plans previously
approved and implemented by the CRDC are included as appendices to this
EDPIan in support of this official action (see Appendix).
As a result of this action, this Integrated EDPIan officially incorporates the sum
of all of the individual findings of all of the individual EDPlans. The integration
of these EDPlans into a single document has no effect to negate any of the
findings of fact which constituted the statutory rationale for creating the
EDAreas, in the first place. Therefore, each and every finding of fact is hereby
certified, and affirmed by action of the CRDC and the City Council, to remain
valid in consideration of the Integrated EDPIan.
Continuation of the City Center Project
The reader is directed to the financial premise of the City Center
Redevelopment Plan and the Amended 126` Street Economic Development
Plan. (See Appendix) These two plans served as the policy basis for the
creation of a Redevelopment Area and an Amended Economic Development
Area, as well as the designation of both of these areas as tax allocation areas
under Indiana statute.
The purpose of designating these areas as tax allocation areas was to capture
tax increment revenue in support of the initial phases of the City Center project
(land acquisition). This initial phase has been completed.
Therefore, the proposed action to combine three of the EDAreas into a single
Integrated EDArea is a direct continuation of the City's support of the City
Center project. In the interim since the previous action by the CRDC, new
development opportunities have been realized, and the City is in position to
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 22
implement additional phases of the original vision of the City Center project,
based on the projects itemized in this Integrated EDPIan.
The original City Center Redevelopment Area remains geographically
unchanged by any action proposed herein. However, the inclusion of new
areas, identified below, into the EDArea, as well as the designation of an
expanded tax allocation area, can potentially add to the TIF increment which
can be captured in support of the City Center project. This, therefore, is simply
a continuation of the previous economic development pro forma which was
approved by the CRC and the City Council in 1998.
2003 Amendment: The CRC has completed all but the most long -term of
its original visionary goals for creating a new cultural and artistic center for
the community. The 2003 amendment is set before the public for its
review and comment, and to enable the public to scrutinize the CRC's
progress thus far and its proposals for future action. The conceptual key
to the entire 2003 effort is the realization that the 'center of the city' of
Carmel is actually a much larger area than has been publicly realized,
prior to the redevelopment activities undertaken by the CRC since 1998.
The 2003 amendment, therefore, will seek to emphasize the concept that
the City Center projects, in actuality, benefit the community as a whole,
rather than just the small, designated ED Areas or RD Areas, AND to
emphasize that the development in this larger 'core area' is part and
parcel to the redevelopment of City Center.
Few modern cities have undertaken the visionary effort of the City of
Carmel to create, preserve and re- create the greater downtown area as a
cultural and artistic center of the community at large. Most cities are
content to have some new development here and there for the purpose of
increasing its tax base. But only the most visionary, courageous and
talented cities have had the nerve to endure the creation of a substantial
negative tax increment with the goal of stimulating so much economic
growth that the negative increment is not only overcome, but overflowing
with new property tax base for the City as a whole.
It has long been held and advocated by city planners that a healthy core
area is crucial to the long -term economic health of a city. The CRC's
actions of the last 5 years have proven that a vital core area can add
vitality to all of the other areas of community growth. The CRC can
demonstrate that new growth and viable economic activity in the City
Center RD Area directly benefits the economic activity of other ED Areas,
and the community at large. Therefore, this 2003 amendment is to be
considered an opportunity for public discussion of the proposition that the
improvements in the City Center RD Area directly benefit the City's other
ED Areas, as well as the community as a whole.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 23
Findings of Fact Related to Additional EDAreas
Beyond the original Findings of Fact which were detailed in each, individual
EDPIan, and are hereby incorporated into this Integrated EDPIan, this
Integrated EDPIan will focus the additional Findings of Fact on the areas which
are proposed to be added to the Integrated EDArea. As such, the Findings of
Fact presented below are to be considered cumulative, in addition to the sum of
the previous Findings.
These new areas to be added to the Integrated EDArea are generally described
as follows:
1. The previously undeveloped area located on the west side of US31, north
of 126 Street south of 131 Street, and east of the Firestone office
building, as shown on Map #2. This new area is contiguous with the
EDArea previously known as the Pennsylvania Street North EDArea.
2. The area of the planned development known as the Buckingham area,
north of the amended 126 Street EDArea, and contiguous thereto, as
shown on Map #2. This development includes both multi family residential
units and commercial development.
These two areas constitute a minor addition to the total Integrated EDArea
FINDING OF FACT #1: "...PROMOTES SIGNIFICANT OPPORTUNITIES FOR
THE GAINFUL EMPLOYMENT OF ITS CITIZENS..."
The areas being added to the Economic Development Area consist of areas
peripheral to the Carmel Science Technology Park. In each of the two
areas, there will be development of new office and other commercial space
which demonstrably adds new jobs to the local economy. Therefore, the new
areas are easily demonstrated to promote significant opportunities for the gainful
employment of the citizens of Carmel and surrounding communities.
The area west of US31 is the site of a major new office building, located
immediately north of 126 Street. This site is directly served and benefitted by
the 126`" Street corridor which was completed through the original public
financing (COIT bonds). Because the 126 Street corridor now extends
continuously from the far east side of Carmel to the US31 corridor, without
interruption, the economic viability of this site was enhanced. The development
of this office building will clearly provide job opportunities for residents of the
Carmel /Hamilton County area.
The proposed Buckingham development will also provide opportunities for
gainful employment of the citizens of the area. The proposed development
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 24
provides multi family residential units which can be included in the tax increment
according to the State Board of Tax Commissioners. Section 36- 7 -14 -39
(a)(1) indicates that "residential property under the rules of the state board of
tax commissioners" is not to be included in the tax increment. However, the
regulations of the State Board of Tax Commissioners regarding real estate
property assessment (50 IAC 2.2 -1 -53, "Residential property defined")
states, "Residential property is normally construed to mean a structure
where less than three (3) families reside in a single structure." This clause
is interpreted to mean that apartment complexes of greater than 2 units can be
considered eligible for generating tax increment, as proposed for the
Buckingham development.
The development proposal also includes commercial development space, which
can certainly be included in the tax increment. This commercial space, in the
form of office and retail space, will also provide employment opportunities for
citizens of the area, and the contribution of net assessed value by the whole
Buckingham development will benefit the community.
The overall plan for the economic development of the area is to continue the
implementation of the City Center project, as previously presented and
approved. The areas proposed for inclusion in the Integrated EDArea are
contiguous to the EDArea and are developing in accordance with the
surrounding land use, as a part of the business core of the City of Carmel. As
such, it is the conclusion of this EDP1an that the areas proposed for inclusion in
the Integrated EDArea meet the definition of this statutory finding and should be
included in the Integrated EDArea.
FINDING OF FACT #2: "...LACK OF LOCAL PUBLIC IMPROVEMENTS..."
The goal of integrating the EDAreas continues to be directly related to the need
for additional local public improvements in order to achieve the highest level of
economic activity in the core business area of the City. Carmel is truly a gifted
community. It has achieved a level and success of development which is
virtually unparalleled in any other part of the state, and as such, the standards of
the community are higher than most other communities. Because Indiana
statute does not create highly specific and detailed criteria for statutory findings
of fact or findings of blight, communities are able to adjust these findings to their
own context and apply the statute to the particular idiosyncracies of their
community. In Carmel, the goal is literally to achieve the highest possible level
of success with new development of the highest possible quality.
The historical development patterns of the city are reaching the point where
certain types of goals cannot be achieved without the re- arrangement of land
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 25
uses and activities. The Comprehensive Plan predicts that by the year 2020, all
of the land within the Carmel planning area will be developed. The importance
of planning for the highest and best use of the land becomes even more
important to achieve the community's goals.
The Integrated EDArea represents Carmel's highest profile employment center.
The Science and Technology Park holds many of the City's top employers and
most growth- oriented companies. It is the success of these companies which
will continue to provide the area with economic growth, even after the planning
area is fully developed. The Integrated EDArea is in a critical location for the
economic activity of the community.
The 126 Street extension from Rangeline Road to Adams Street was a
critical public improvement in the original Economic Development Plan. In
addition, EDPIan amendments established that the City Center project
contributed directly to the Economic Development Plan for the 126 Street
Corridor Economic Development Area as well as the Old Town EDArea, and
provided additional public sector improvements which have been identified and
previously approved by the community as part of its long -range planning effort.
These approvals are a matter of public record, particularly with regard to the
incorporation of the City center project into the long term development plan of
the City of Carmel.
Included within the proposed City Center project are a number of public
improvements designed to establish a cultural center for the City of Carmel
adjacent to its business core. Those public improvements include:
Parking Facilities
A Community Center (art museum)
Performing Arts Center
An Outdoor Amphitheater
Improvements to the Monon Trail Corridor
The City Center project proposal, as previously presented to the City Council,
provided additional perspective for the public to understand the magnitude and
architectural detail of the City Center proposal. In addition, the architect also
provided a perspective rendering of the proposed project to demonstrate the
overall architectural integrity of the project and its impact on the community and
surrounding area.
The City Center project is of such a substantial scale and impact that it will
become an active part of the overall economic development of the area,
including both the Integrated EDArea and the City Center Redevelopment
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 26
Area. It is projected that the proposed City Center project and the public
improvements to be funded as part of its implementation will have a direct
impact on the entire community, with the intent of developing the center of the
city as a cultural center. Without these public improvements, the City of
Carmel will not become economically distressed. However, it is clear that the
successful development of the City Center project will have a direct economic
benefit to the surrounding area, including the Old Town EDArea and the 126`
Street EDArea, and will reinforce the economic viability of the city's business
and social core.
The City Center project was proposed as a public private partnership. Since
its inception, the City has enjoyed several redevelopment type projects for the
central core of the city, including the housing /commercial development
proposed for the southwest corner of the intersection of Main Street and
Rangeline Road. The subsequent phases of the City Center project include the
development of public space, possibly including a performing arts center,
museums or other forms of cultural, entertainment and recreational activities for
the citizens of Carmel. These facilities are generally not within the purview of
the private sector, except under highly unusual circumstances. Even in major
cities like Indianapolis, Chicago and New York, performing arts facilities,
museums and community activity space is a public sector responsibility.
Therefore, it is clear that neither the normal operation of the regulatory process
nor the operation of private enterprise is likely to be functional in meeting such
needs.
For these reasons, it is concluded that the Integrated EDPIan (including the
proposed City Center project) cannot be achieved by the regulatory processes
or by the ordinary operation of private enterprise without resort to the powers
allowed under IC Sections 36- 7- 14 -2.5, 41 and 43 because of lack of local
public improvements which, once implemented, will enable the combined areas
to achieve a higher level of economic activity and public benefit than would
otherwise be possible, thereby confirming this statutory finding of fact.
FINDING ##3: THE PUBLIC HEALTH AND WELFARE WILL BE
BENEFITTED...."
The City Center project will benefit the public health and welfare of the City of
Carmel in several ways, as explained in previous EDPlans. First, the City
Center project will generate more intense and coordinated development in the
central business core area. For example, along the Rangeline Road corridor,
the existing land use patterns include unimproved land and property which
needs reinvestment and remodeling. This corridor represents the original
economic link between Carmel and Indianapolis, and the strip commercial
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 27
development which originally took place along this corridor is among the oldest
commercial development in the City. The long range plan of the City is to
develop a single, architecturally coordinated development which will be
undertaken generating a substantially greater number of jobs and economic
activity than the current land uses of the City Center area.
Second, the City Center improvements are expected to lead to substantially
greater levels of local tax revenues including property taxes and COIT.
Economic incentives can then be directed to public services needed by the
community, including road repairs, maintenance of public spaces, infrastructure
improvements and so forth. The uses for these funds can be determined
annually by the City's leadership as part of the budgeting process.
Third, the addition of cultural and public facilities such as the performing arts
center and the community center will have a direct and positive impact on the
public welfare. These facilities will increase the number of opportunities
available for Carmel's citizens to be exposed to intellectually and culturally
enlightening performances, as well as offering the opportunity to participate in
those activities directly. In addition, the community center will provide
opportunities for the residents of the area to meet and interact with regard to a
broad range of public, semi public, and community -based activities. The
activities programmed for community center spaces are virtually limitless, and
with the creative capacity of an educated population, the community space in
Carmel will undoubtedly provide a huge benefit to the community at large.
Fourth, the Monon Trail corridor improvements are part of the City Center
project. This linear park is an extension of the Monon Trail of northern Marion
County which has become one of the most popular park facilities in central
Indiana. The portion of the linear park which stretches from Broad Ripple to
Nora is a public health attraction for the community at large with people making
a point of traveling to the Monon Trail to jog, skate, bike or walk its entire
length. It is not unreasonable to expect similar usage in Carmel, thereby
creating a direct benefit to the public health and welfare of the community at
large.
The Integrated EDArea, along with the Redevelopment Area, continues to be,
a carefully coordinated effort to assure the economic viability of the urban
center of the City of Carmel. History has proven that cities routinely neglect
their urban cores until the decay and disinvestment has become so pervasive
that the area is unilaterally blighted. Carmel's leadership is determined to avoid
that outcome. In that determination, the proposal is to create the opportunities
to capture revenue streams from the business core to assure that the business
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 28
core remains economically viable for the long term. This means developing a
coordinated EDPIan between the Redevelopment Area and the Integrated
EDArea and then working consistently toward implementation of the City
Center project.
For these reasons, it is concluded that the public health and welfare will benefit
by accomplishment of the plan for the integrated EDArea. The City Center
project is a complex mix of public and private space designed to anchor the
central portion of the City as the focal point of the community. Implementation
of this project, undertaken in a careful and considerate manner, will directly
benefit the public health and welfare, as suggested in this finding of fact.
FINDING #4: "AN INCREASE IN THE PROPERTY TAX BASE..."
The amended Economic Development Plan meets the statutory finding of "a
public utility and benefit as measured by: the attraction or retention of
permanent jobs; an increase in the property tax base; improved diversity
in the economic base, OR other similar public benefits." The City
Center project was designed to meet this finding of fact by increasing the land
use intensity within the Redevelopment Area. This increased intensity will
provide more private sector office and retail space and, with that increase in
space, there will be a commensurate increase in the number of permanent jobs
created and retained in the community. Considering that most of the
Redevelopment Area is either vacant altogether or in need of substantial
reinvestment, it is easy to see that the City Center project will almost certainly
result in many more jobs than those now existing. Thus, the first part of the
finding is established.
Second, the portion of the Redevelopment Area located in the southwest
quadrant of the intersection of 126` Street and Rangeline Road is largely
undeveloped, and is mostly owned by the City. As such, it is generating no tax
base for the community. Although no formal implementation is yet proposed,
many of the projected improvements will take place on land that is currently
either totally unimproved or whose improvements are suffering from a lack of
reinvestment. Therefore, the net result of the plan is to increase the amount of
taxable improvements in the real property of the area, leading to an increase in
the property tax base.
The construction of an integrated entertainment complex, economically
buttressed by infrastructural improvements and new office and retail space will
also increase the diversity of the local economy. The location of this project,
between the historic retail center of the community and the primary retail center
of Carmel Drive /116` Street, links the overall retail functions of the
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 29
community, providing continuity of land uses. This project, combined with the
impact of the 126t Street corridor completion, should improve the diversity of
the local economy, resulting in needed investment and reinvestment in property
in the area.
For these reasons, it is concluded that the accomplishment of the City Center
project, as well as other aspects of the Integrated EDPIan will be "a public
utility and benefit as measured by: the attraction or retention of permanent jobs;
an increase in the property tax base; improved diversity in the economic base;
OR other similar public benefits," thereby confirming this statutory finding of
fact.
FINDING #5: "...CONFORMS TO OTHER DEVELOPMENT AND
REDEVELOPMENT PLANS...."
This Integrated EDPIan complies, by definition, with other development and
redevelopment plans for the area in several ways. First, this Integrated
Economic Development Plan is developed in tandem with the City Center
Redevelopment Plan and conforms specifically thereto. By developing these
two Plans in tandem, the Redevelopment Commission can use its diligence of
review and approval to assure that they conform directly with one another. To
take this principle a step further, the Plan Commission has determined on two
separate occasions that each of the EDPlans and the Redevelopment Plan
conform with the plan of development for the city. These actions were taken
officially and are a matter of public record. As such, there is no question
whatever that the Integrated EDPIan conforms to the other development plans
for the area.
To further underscore the accuracy of this assertion, the City Council also
officially considered the findings of fact in all of the EDPlans and found that the
plans conformed to the plan of development for the city. The Council then
approved the issuance of public debt for the purpose of implementing these
plans. Certainly, if there were any doubt as to whether the plans or the
recommended projects conformed to the plan of development for the
community, the City Council would never have approved the financing for these
projects. Considering that the City Council has approved public debt in excess
of $40 million for the implementation of these EDPlans, it is clear that the
individual plans conform to the overall development plans for the city.
The fact that this EDPIan conforms to the previous planning for the community
is beyond dispute, as a matter of public record, and by the direct public
approvals, resolutions and other actions of the CRDC, the Redevelopment
Authority, the Plan Commission and the City Council. For these reasons, it is
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 30
concluded that the Integrated EDPIan conforms to all other development and
redevelopment plans for the City of Carmel, thereby confirming this statutory
finding of fact.
ADD'L FINDING: THE AMENDMENT IS REASONABLE APPROPRIATE
It is also necessary for this Integrated EDPIan to ascertain whether the
amendment is reasonable and appropriate when considered in relation to the
original resolution and plan, along with the purposes of IC 36 -7 -14. It is
therefore necessary to consider the original context of the plans.
As stated in the earlier sections of this document, the original EDPlans and the
RDPIan were undertaken in support of the long term development of the city's
business core area (generally defined as 116t Street to 131S Street, and from
US31 to Rangeline Road). This general area contains the old downtown area,
as well as the Science Technology Park, which represents the most modern
business center in the community. Those earlier sections of this report,
including the Introduction, Statement of Policy Amendments and the Impact
of Future Actions all substantiate that this action toward integrating and
consolidating the individual EDAreas into one area, continues the original intent
to develop the entire area as a developmental whole.
As of the date of presentation of this Integrated EDPIan, all projects have been
undertaken for the purpose of securing these areas as developmentally and
functionally interconnected. Furthermore, these projects have been undertaken
to underscore the developmental importance of the defined areas as the
cultural, governmental and business center of the community.
The recommended action to integrate the separate EDAreas into a single
Integrated EDArea is undertaken to reduce confusion and increase public
awareness. Individual projects originally justified the creation of individual
areas, however, as the developmental constraints were removed, the area
began to grow in the preferred manner until now all of the areas are functionally
and developmentally interconnected.
For these reasons, the original reasons for pursuing EDArea and RDArea
designations for the various areas remain valid. The findings of fact presented
above all assert and demonstrate that the new areas meet the developmental
conditions prescribed by statute, in substantially the same manner as the original
areas. Therefore, it is hereby asserted that the amendment to the resolution and
the amended (Integrated) plan are reasonable and appropriate to the original
purpose and intent of the individual areas.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 31
ADD'L FINDING: THE AMENDED RESOLUTION PLAN CONFORM TO THE
COMPREHENSIVE PLAN
In Finding #5, above, it was clearly demonstrated that the original plans were
determined to conform to the plans of development for the city. An entire
sequence of official actions by public agencies and officials affirmed this
assertion. As a result of the findings of this Integrated EDPIan, presented
above, the areas proposed for inclusion in the EDArea by virtue of this EDPIan
are also in conformance with the overall plan of development of the city.
The areas proposed for inclusion (those areas which were not previously a part
of any EDArea) amount to approximately 100 -110 acres. As shown in the
"Total Designated Areas" summary table earlier in this Integrated EDPIan, the
total acreage previously designated exceeds 1,000 acres. As shown on Map
#2, the expansion areas include three primary developments:
Hamilton Crossing (about 48 acres);
Additional Meijer Development (about 5 acres); and,
Buckingham Development (about 55 acres)
These 3 developments predominantly represent commercial developments
which have been facilitated by the provision of new thoroughfare access along
Pennsylvania Street, 126`" Street (or other projects), as well as through the
developmental integration of the overall area as the business core of the
community. As such, these developments will benefit from the new facilities
and projects recommended in previous EDPlans.
More importantly, however, the Comprehensive Plan for the community is clear
in its designation of this general area as the business core of the community.
Even the most cursory examination of the existing and future land use plans of
the community clearly show the intent of these areas to serve as the business
core. This conformity was clearly established in the previous EDPlans and the
inclusion of the three developments listed above does not alter that original
conclusion. Inasmuch as these developments increase the intensity of this
business core, as well as expanding to and developing undeveloped parcels
which were designated for business land uses within that core, it is absolutely
clear that these developments fall totally within the original intent of the
designation of these areas as economic development areas. Therefore, it can
be safely concluded that the three areas listed above conform to the
comprehensive plan of the community.
SUMMARY:
The narrative above demonstrates conclusively that the Integrated EDPIan
meets the requirements of all "findings of fact" as provided in Indiana statute,
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 32
IC36 -7 -14. It is clear that the Redevelopment Commission has considered all
of the relevant issues related to the establishment of the economic development
areas. Originally, individual EDAreas were created to support projects such as
corridor improvements which were geographically separated, yet still part of the
central business core of the community. As these projects were implemented,
however, it became clear that all of the projects were a part of an overall plan
to assure the economic viability of this business core. Although the 126t Street
corridor and the Pennsylvania Street corridor were previously considered
separate projects, it is now clear that they are closely related to the economic
success of the whole area. Therefore, this is an appropriate time to integrate all
of the separate areas into a single, unified whole.
Description of the Proposed Projects
The Integrated 126t Street Economic Development Plan includes, by
incorporation of all of the previous economic development plans, all of the
projects originally proposed. (See Appendix) This Integrated EDP1an adds no
new projects to the list of projects to be undertaken as a result of the economic
development plans of the community. These projects are summarized below.
The City Center Project
The City Center project is proposed for an area of slightly less than 100 acres
located along Rangeline Road and stretching from the City Hall on the south to
the new alignment of 126 Street on the north. The dominant land uses in the
area are commercial and governmental uses, however, about 61 acres of the
area are totally unimproved.
The primary proposed development within City Center project is commercial,
and public space, including an entertainment complex with a theater, performing
arts center and amphitheater. The City is also considering opportunities for
museum space as part of the public space complex. Additional commercial,
retail and office development is planned along the major transportation
corridors as part of the overall development.
The early phases of the project included land acquisition. Future phases are
expected to include construction of parking facilities, infrastructure, and other
project related activities, which would be anticipated to be eligible for COIT
and TIF financing.
2003 Amendment: This 2003 amendment to the City Center
Redevelopment Plan and Redevelopment Area serves to re -affirm the
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 33
previous project list, especially with regard to those projects not yet
completed, as well as the addition of the following projects:
Storage /restroom building on Monon Trail $300,000 $500,000
Veteran's Memorial $75,000 $125,000
South Veteran's Way Roundabout $900,000 $1,000,000
East -west Retail Boulevard $500,000 $600,000
Repairs, renovation, remodeling of Public Spaces $175,000 $225,000
Infrastructure redevelopment, utility burial $650,000 $750,000
construction of the South Tower $400,000 $500,000
126 Street Extension /Completion
The 126t Street corridor was completed as a result of previous financing and
construction activity and is currently operative within the city's thoroughfare
system. This project was critical to the developmental integration of the central
sections of the city, and in providing additional thoroughfare access to the city's
business core. The 126t Street project substantially increased traffic access
and circulation within the business core, while simultaneously improving access
to the government center and the City Center area.
Pennsylvania Street Corridor Widening
Financing for the Pennsylvania Street corridor widening project has already
been completed through the issuance of public debt, and it is not anticipated
that additional financing will be required.
Future Projects Overview
The Integrated EDPIan is presented for the purpose of integrating the economic
development efforts of the City of Carmel over the past 5 years while
projecting that same progress into the future. When the economic development
planning efforts were originally initiated in 1996, the City's Leadership had a
"schematic" vision of the future development of the central areas of the City
(generally bounded) as follows:
from Range Line Road on the east;
to 116 Street on the south;
to the US31 corridor on the west;
to 131st Street on the north).
Based on that "schematic" vision, the city's Leadership moved forward with
those portions of the vision which were the most fundamental, including projects
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 34
such as the 126 Street Extension, the Pennsylvania Street corridor widening,
and the Old Town streetscape improvements. Not long afterward, the City
Center concept was developed sufficiently to be added to the long term plan.
2003 Amendment: Please note the above text, written and approved in
2000. The general boundaries described in the Integrated ED Plan (2000)
are almost a perfect prediction of the boundaries as seen in 2003. This
consistency of vision should serve to reassure the public that the CRC
and the City have carefully considered all of the available information and
have charted a careful path, which continues to be validated.
It is a positive testimony to the strength of this long term vision that the vision
continues to grow while becoming more real. The 126 Street extension is
now in place, and as a result, the community can more easily visualize the
developmental importance of the "City Center" and the 126 Street corridor
areas of the city. The Pennsylvania Corridor improvements have already
helped to generate a positive image of growth, which has led to continued
economic development along the US31 corridor in the form of new office and
retail development. The Old Town streetscape improvements have
dramatically improved the aesthetic character of downtown (which was once a
primary concern of the Comprehensive Plan), to the point that major
redevelopment proposals for the area are being received from the private
sector. The City Center project continues to tangibly move toward reality,
resulting in the direct cultivation of new opportunities for a performing arts
center and other community amenities which were part of the original vision for
the overall area.
The economic development and redevelopment planning process which began
in 1996 as a "schematic" concept, has moved forward. The original
"fundamental" elements now appear as fragments of a puzzle which is becoming
increasingly clear in terms of the City's development. And as that puzzle moves
toward completion, the elements which once appeared as fragments are more
clearly becoming a part of a single, integrated, developmental picture. Thus, it
is appropriate to take the time to integrate these "fragments" into a single,
operative, planning document so that the entire community can see the overall
developmental picture, as well as the longer term vision, more clearly. This
Integrated Economic Development Plan is intended to serve that purpose.
UPDATED PROJECT LIST:
Having offered the planning and development rationale which served as the
conceptual basis for the previous economic development plans, it is therefore,
appropriate to present the list of improvement projects which are anticipated to
be a part of the final phases of implementation of the economic development
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 35
strategy for this portion of the City. The projects are summarized in the table
below.
Project Minimum Maximum
Estimate Estimate
Performing Arts Center $25,000,000 $30,000,000
Art Museum $14,000,000 $16,000,000
Land Acquisition for Old Town Redevelopment $3,500,000 $4,000,000
Street Department Maintenance Facility $1,500,000 $2,000,000
Land Acquisition along Range Line Road $1,800,000 $2,200,000
(near City Hall)
Old Meridian Corridor Improvements $1,000,000 $1,500,000
Mohawk Center Development Redevelopment $5,000,000 $6,000,000
Activity
Total Estimated Costs $51,800,000 $61,700,000
The project list presented above is offered with the intent of placing the entire
list of projects into the venue of public discussion. It is important to understand
that the list is presented as part of this Integrated Economic Development Plan.
Therefore, the list is intended to represent the realm of future possibility, NOT
as a list of "approved" projects.
It is also appropriate to note that several of the projects listed above, in fact,
were presented in the previous economic development and redevelopment for
the area, as found in the appendix to this report. For example, the performing
arts center was originally presented as part of the redevelopment plan for city
center.
The economic development planning process requires that all potential projects
be listed in the Integrated Economic Development Plan in order to be
considered for implementation in the future. Therefore, in order for a project to
move from the realm of "possibility" to the realm of "reality, "the City and the
Redevelopment Commission must identify appropriate financing.
Economic Development Strategy
The comprehensive plan for the City of Carmel over the last three decades
demonstrates a substantial concern for the fate of the city's original core area.
While Carmel has enjoyed high quality growth, there are some areas which
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 36
were developed before the city could anticipate the success of its future. This
original development is not compatible with a city which is nearing its
developmental limits. The prime areas of need are in the vicinity of Rangeline
Road, and with this understanding, the Economic Development Strategy for the
Integrated Economic Development Area contains the elements previously
approved by the City, as follows:
1. The Carmel Redevelopment Commission amended the boundaries
of the 126 Street Economic Development Area to reflect the
boundaries shown on Map #1 (presented earlier in this document).
2. The City Center project was distinctly designed to re- direct the focal
point of the community of Carmel. The Government Center was
developed over the last decade to include a new City Hall, Police
Station and Fire Station, as well as a central public space.
3. The Government Center is also adjacent to the Monon Trail corridor
which is proposed for significant improvements creating a linear
park, linked to Indianapolis and unequaled in the state of Indiana.
4. The proposed City Center project is expected to generate an
entertainment complex, as well as new office /retail space to
support and augment the space available in the Science
Technology Park. The integration of these needs into the overall
needs of Carmel's premier employment center assures that the City
Center project will directly benefit the Integrated EDArea, as
proposed.
5. The Redevelopment Commission established a Tax Allocation Area
to coincide with the boundaries of the amended 126 Street
Corridor Economic Development Area and issued COIT debt to
support the initial phases of the City Center project.
6. The Redevelopment Commission should also consider the viability
of using COIT bonding to assist in paying for the necessary
improvements related to the City Center and Monon Trail projects.
7. The City should, in addition, consider pursuing additional phases of
the City Center project in an appropriate manner, based on
financing for specific projects or elements under the City Center
plan, as presented previously.
Integrated EDPlan Conclusions
The following conclusions are offered for the Integrated 126 Street Economic
Development Plan. These conclusions also include by reference (see
Appendix), the conclusions offered for the original EDPlans, as well as the City
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 37
Center Redevelopment Plan and the Amended 126 Street Corridor
Economic Development Plan.
Based on the examination of the facts and the analysis set forth in this integrated
EDPIan, the following conclusions are offered:
1. That the implementation of the City Center project will directly
benefit the Integrated 126 Street Economic Development Area.
2. That the implementation of the City Center project will help to
developmentally unify the entirety of the business core of the City of
Carmel, including the Rangeline Road corridor, the Old Town
(historic downtown) area, and the Science and Technology Park.
3. That the need for the 126 Street extension project has proven
beneficial to the thoroughfare system of the area.
4. That the 126"' Street extension project directly benefitted the City
Center project.
5. That the future economic development of the entire area, including
the amended 126"' Street Corridor Economic Development Area,
the Old Town Economic Development Area and the City Center
Redevelopment Area, as the business core for the community will
be directly benefitted by the projects proposed in this Integrated
Economic Development Plan.
6. That it was appropriate to delete the City Center project area from
the original 126 Street Corridor Economic Development Area in
order to facilitate the creation of the City Center Redevelopment
Area and to implement the City Center project.
7. That it was appropriate to extend the boundaries of the 126 Street
Corridor Economic Development Area to take in a larger portion of
the Science Technology Park, due to the economic
interdependence of the economic development areas as the
functional employment center for the community.
8. That a positive economic impact resulted from the implementation
of the projects recommended in these previous Economic
Development Plans in the form of supporting the creation of new
permanent jobs, securing existing jobs and generation of additional
tax revenues to the City.
9. That if this Integrated Economic Development Plan is not approved
and the recommended projects are not implemented, it will be
more difficult for the community to achieve the levels of economic
intensity and competitive efficiencies which would otherwise be
possible with the implementation of the City Center and other
projects already undertaken within these EDAreas.
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 38
10. That it is appropriate to offer public financing for certain portions of
the proposed projects as an economic stimulus for the proposed
projects.
11. That the City and the Redevelopment Commission should seek
private sectors partners to assist in the implementation of the
recommended projects and in assembling project "packages"
which will minimize the public sector investment and optimize the
economic impact of the projects.
The Redevelopment Commission has done an outstanding job of analyzing and
implementing an appropriate level of activity to encourage the optimal economic
development of the interdependent economic development areas. The
conclusions of this Integrated Economic Development Plan are predicated on
the continued performance of objective analysis, public policy direction, and
the formation of partnerships with the Plan Commission and the City Council
necessary to assure the success of the projects.
Integrated EDPlan Recommendations
Based on the information presented, the analyses performed and the findings
and conclusions of this Integrated Economic Development Plan, the following
recommendations are presented for the consideration of the Carmel
Redevelopment Commission, and thereafter to the City Council for approval.
1. That the Carmel Redevelopment Commission should formally
integrate the boundaries of the amended 126 Street Corridor
Economic Development Area and the Pennsylvania Street North
South Economic Development Areas to create one, single,
Integrated Economic Development Area. This action will result in
greater clarity and simplicity of public policy with regard to
economic development initiatives for this business core area. The
resulting boundaries are shown in Map #2 and the boundary
description was presented earlier in this EDPIan.
2. That the Carmel Redevelopment Commission add the two areas not
previously included within the economic development areas (as
shown on Map #2) to the Integrated 126 Street Economic
Development Area.
3. That the Carmel Redevelopment Commission should formally
create a Tax Increment Finance (TIF), Tax Allocation Area whose
boundaries are shown on Map #4.
4. That the Carmel Redevelopment Commission should formally
approve this Integrated Economic Development Plan and undertake
further implementation of additional phases of the City Center
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 39
project, and the Monon Trail corridor improvements.
5. That the Carmel Redevelopment Commission should work directly
with the City to develop a financial plan for the implementation of
the City Center project, including eminent domain actions and
negotiated purchases, as well as financing for additional phases of
the project, as determined necessary by cooperative efforts of the
Redevelopment Commission, the City Administration and the City
Council.
Parcels Potentially to be Acquired
The following parcels have been identified as those proposed to be acquired by
the CRDC in pursuit of the Economic Development Strategy. Please note that
the City or the CRDC may be acquiring most or all of these parcels through
negotiated purchase, rather than eminent domain.
[126 Street Corridor Economic Development Area Range Line Road Parcels, west side of road, adjacent/east of City Hall]
Calc. Area Parcel Number Principal Tax Payer
160936000002300 0hiilip L Judith E Stewart P O Box 374 Carmel IN
0.66327 1609360000022000 Phillip L Judith Stewart P 0 Box 374 Carmel IN
0.6634551609360000021000 Marketing Services of Indiana Inc 1040 Range Line Rd S Carmel IN
0.66366 1609360000020000 Marketing Services of Indiana Inc 1040 Range Line Rd S Carmel IN
0.6035481609360000018001 Thomas D Stayer 1036 Range Line Rd S Carmel IN
0.4412221609360000019000 Marketing Services of Indiana Inc 1040 Range Line Rd S Carmel IN
0.1960171609360000018000 Marketing Services of Indiana Inc 1040 Range Line Rd S Carmel IN
8.7211261609250000014000 Harry C Elliott 620 A Range Line Rd S Carmel IN
(a.k.a. Elliot's Mohawk Plaza)
[Old Town Economic Development Area Main Street Parcels, north south side of road, adjacent/east of Monon Trail]
Calc. Area Parcel Number Primary Taxpayer
0.1941191609251601013000 TWM Inc 11711 College Ave N St 160 Carmel IN
0.1938161609251601012000 TWM Inc 11711 College Ave N St 160 Carmel IN
0.2001281609251601011000 TWM Inc 11711 College Ave N St 160 Carmel IN
0.2001211609251601010000 TWM Inc 11711 College Ave N St 160 Carmel IN
0.1468061609251602031000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN
0.3043461609251602030000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN
0.1229071609251602029000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN
0.1448 1609251602003000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN
0.3152831609251602001000 Hays, John F Laurence Grabb 89 1st Ave S W Carmel IN
0.2500831609251201030000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074
3.108e -002 1609251201029000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074
9.4009e -002 1609251201028000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074
0.1250781609251201027000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074
0.2501041609251201026000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074
0.2501441609251201025000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074
7.028e -003 1609251201024000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074
0.2047211609251201023000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 40
6.0383e -002 1609251201020000 Anthony Properties LP 18881 U S 31 N Westfield IN 46074
0.2192231609251605003000 Glenn A Amy D Dunkerly 111 First St SW Carmel IN
[Old Town Economic Development Area Main Street and Range Line parcels, SE Corner]
Calc. Area Parcel No. Primary Taxpayer
0.2453251610300301031000 MA LLC 111 Range Line Rd S Carmel IN
0.2105211610300301030000 William E Marcia A Foreman 41 Range Line Rd S Carmel IN
0.1983341610300301008000 William E Marcia A Foreman 40 1st Ave SE Carmel IN
0.1702811610300301007000 William E Marcia A Foreman 0 1st Ave SE Carmel IN
9.8435e -002 1610300301005000 Carmel Clay Chamber of Commerce Inc 41 Main St E Carmel IN
0.2135871610300301004000 Gen Ii Marketing Inc. 31 Main St E Carmel IN
0.1111651610300301003000 Marshall E Andich P O Box 494 Carmel IN
9.0456e -002 1610300301002000 Marshall E Sandra Lee Andich P 0 Box 494 Carmel IN
7.0215e -002 1610300301001000 Marshall E Andich P 0 Box 494 Carmel IN
8.5747e -002 1610300301006000 City of Carmel One Civic Sq. Carmel IN
2003 Amendment: This amendment to the Integrated ED Plan as well as
the 2003 Amendment to the City Center Redevelopment Plan includes an
amendment to the list of parcels to be acquired by the CRC, as part of the
amended City Center RD Area. These parcels are listed as follows:
(Insert table of parcels from declaratory resolution)
/cr126integ
(2003) Integrated Economic Development Plan Amended City Center Redevelopment Plan 41